Excellent question. As the great environmentalist John Muir so eloquently spoke, "Land they don't make any more." Well actually volcanoes create new land but there are none here in Sonoma County. Land is exciting, inspirational and expensive. I say expensive because raw land alone is hard to find under $150-$200K. Drilling for water can run well upwards of $30K depending on the area in which you are looking. Septic systems pre-perc investigations $2,500 -$4,000. Septic design and installation start at $50K. Then there are soils investigations critical for understanding the requirements for your foundation, extent of grading needed for the residence and the driveway which could easily run $12K. Will you need retaining walls? How's the site situated with respect to sun? Small parcels on the valley floor often have no problem drilling for water but can be problematic for septic systems (a high water table is good for wells, but does not bode well for septic systems). In short, a buyer needs to have the mind set they are going to be spending well above $500K to bring raw land to fruition.